On a hot summer afternoon, 23-year old Nizamudin Abdul Rahim Khan is playing cricket on a muddy, unpaved road in the Rafiq Nagar slum in India's financial capital, Mumbai.
with over 1.4 billion people. Nearly 53% of them are under 30, its much-touted demographic dividend, but without jobs, tens of millions of young people are becoming a drag on the economy.
The risk for India is a vicious cycle for the economy. Falling employment and earnings undermine India’s chances to fuel the economic growth needed to create jobs for its young and growing population."The fact that we have so many people who have been educated, have spent a lot of their own or family's money but are not being able to find the jobs they need, that's horrifying," she said.
For people in urban areas with full time jobs, average monthly wages, adjusted for inflation, stood at 17,507 rupees in the April-June 2022 quarter - the latest period for which government data is available. "The big thing that has happened is the collapse of small businesses, which were the backbone of employment," said Ghosh.
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